France’s Ardian enters Latin American PV market

Facebook
Twitter
LinkedIn
Reddit
Email
The US$31 million deal is the private equity investor's first investment in the Americas. Source: Flickr/Ian Armstrong

Ardian Infrastructure has made its debut in the Latin American solar market with a US$31 million acquisition of four PV plants in Chile and Peru from Spanish EPC Solarpack.

The Paris-headquartered private equity investor has acquired an 81% stake in the four plants, whilst taking a minority stake in Solarpack to fund its international expansion.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The plants have a combined installed capacity of 46MW, including three projects of 26.5MW in Chile and a 19.4MW plant in Peru. Solarpack will continue to handle the plants’ O&M and asset management needs.

“The first investment in South America is a perfect illusion of our ability to source attractive investment opportunities in Europe and in the American continent thanks to our industrial partners,” said Mathias Burghardt, head of Ardian Infrastructure, in a statement. “Renewable energy is undoubtedly the energy for the future and we are committed to stand as a leading player at world scale.”

“This agreement is proof that our business model in solar PV works,” added Pablo Burgos, CEO of Solarpack. “We are proud to serve Ardian as a new customer for our operation, maintenance and asset management services, while remaining as minority shareholders in the plants. Moreover, he incorporation of Ardian as a shareholder in Solarpack strengthens the balance sheet of the company as we undertake the development of new projects, and sets a path for future collaboration.”

The majority stake in the South American plants follows previous exploits by Ardian in renewables; the company recently invested in greenfield wind projects in Norway and Sweden, and has installed 1GW of renewable capacity to date. Solarpack, on the other hand, is continuing on its momentum and has designs to build 125NW of new PV plants in the next six months, according to the company.

SolarPack was recently awarded the lowest ever solar tariff globally.

Read Next

May 20, 2024
The 480MW CEME1 PV project in Chile has started commercial operation, and is the country’s largest solar project by capacity.
May 15, 2024
Carbon plans to launch the first part of its module production facility in autumn 2025, ahead of a ramp up to an annual cell capacity of 5GW.
May 13, 2024
Spanish solar developer Solarpack has signed two environmental attribute purchase agreements (EAPAs) with tech company Meta in Indiana, US.
May 1, 2024
Wiki-Solar's latest figures show that the world’s top 34 EPC contractors are now responsible for a combined portfolio of more than 100GWac.
April 23, 2024
JinkoSolar has announced plans to supply engineering, procurement and construction (EPC) firm Nyox Srl with 100MW of its Tiger Neo modules.
Premium
April 22, 2024
Following a decade of technological innovation and geopolitical challenges, PV Tech Power revisits the issue of module quality.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 29, 2024
11am (EDT) / 5pm (CEST)
Solar Media Events
June 4, 2024
London, UK
Upcoming Webinars
June 11, 2024
3:00 PM (BST) / 4:00 PM (CEST)
Solar Media Events
July 2, 2024
Athens, Greece